MIT GSW 2015: Evolution and Future of Funding

Slava Rubin, co-founder of Indiegogo, the revolutionary crowdfunding and fundraising platform, shares his take on the progression and prospects of the funding industry. Rubin describes how the concept of crowdfunding has helped overcome the persistent challenges of raising money. The idea of collecting money through a common technology is as old as Pulitzer’s campaign to fund the assembly of the statue of Liberty. Today, Indiegogo has helped businesses like the Flowhive - a simple, yet revolutionary apiculture technology- raise millions of dollars in a short amount of time.

Crowdfunding is not just about raising money, however. It is the ultimate market validation tool that allows entrepreneurs and companies to test their target, promote themselves, and create direct relationships with consumers. Crowdfunding is successful in many different capacities, from trend evaluation for product placement, to volunteer help for personal projects. It provides viability testing for business owners seeking expansion, and for venture capitalists looking to mitigate risk. For Rubin, the power of crowdfunding technology is only growing larger, soon reaching into tax distribution and government projects. This is the future of the funding industry. Are you in?